VENTURE ADVENTURES

Here's what 6 Houston startups have raised millions of dollars this year so far

Houston startups have raised millions so far this year. Getty Images

This year is starting strong when it comes to Houston startups receiving funding. From a $125 million raise from Houston's first unicorn to a local fund gathering up $50 million to deploy in mobility startups, Houston funding news has been pretty exciting.

In case you missed some of these headlines, InnovationMap has rounded up these seven deals based on previous reporting. Scroll through to see which Houston startups are catching the eyes — and cashing the checks — of investors.

HighRadius Corp.

Houston-based HighRadius has reported reaching unicorn status following a $125 million raise. Photo via highradius.com

Let's start with the biggest one, shall we? Houston-based HighRadius, an artificial intelligence-powered fintech software company, closed a $125 million raise, which earned it a a new title: Unicorn.

The series B round, which achieved this status for HighRadius, was led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures, according to a news release from the company.

The company, which offices in West Houston, was founded in 2006 founded in 2006 and employs more than 1,000 people in North America, Europe, and Asia. In November, HighRadius opened an office in Amsterdam. According to the news release, the company will use the funds to further expand its global footprint.

Read the full story here.

Proeza Ventures

Auto Driving Smart Car image

A new venture capital fund based in Houston and Monterrey, Mexico, has raised $50 million to back mobility startups. Hiroshi Watanabe/Getty Images

New fund Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I at $50 million. The fund is backed by Grupo Proeza, a Mexican portfolio management company with two global platforms operating in the mobility and agroindustry sectors, according to the fund's website.

With the fund's money, Proenza Ventures will invest in 12 to 15 early or growth-stage startups with solutions or new technology within industrial, smart components, new vehicles, MaaS, and digital data services.

Read the full story here.

Ambyint

oil and gas

Ambyint, which has offices in Calgary and Houston, has secured funding from Houston venture capital firms. Getty Images

Canada-based Ambyint, which has an office in Houston, has closed its $15 million series B funding. Houston-based Cottonwood Venture Partners led the round, and Houston-based Mercury Fund also contributed — as did Ambyint's management team, according to a news release.

The money will be used to grow both its Houston and Calgary, Alberta, offices and expand its suite of software solutions for wells and artificial lift systems. Ambyint's technology pairs artificial intelligence with advanced physics and subject matter expertise to automate processes on across all well types and artificial lift systems.

Read the full story here.

vChain Inc.

Houston-based vChain, creator of CodeNotary, has raised $7 million in a series A financing round. Pexels

Houston-based vChain, which created the CodeNotary Open Source code trust solution, has raised $7 million in a series A funding round. Paris-based Elaia Partners led the investment round, and other contributors include Zug, Switzerland-based Bluwat and Seattle-based Acequia Capital.

The software tool, which is used to ensure code is securely transmitted throughout the entire development to production process, has several platform integrations and works with languages such as JavaScript, Python, Go, Java, and more.

Read the full story here.

Vivante Health

good intestine health intestine Food for bowel Health

Vivante Health, which uses technology and at-home testing to help users treat chronic digestive health issues, has raised $5.8 million. Getty Images

Vivante Health raised $5.8 million in a series A1 round, according to a news release. The round was led by California-based Lifeforce Capital and Athens, Greece-based Big Pi Ventures. Additionally, NFP Ventures, FCA Venture Partners, and Longmont Capital contributed to the round.

With the fresh funds, Vivante will continue to develop its GI health platform, GIThrive. The digital tool has an at-home microbiome test kit for users, as well as a breath tester that monitors food sensitivities. GIThrive also connects users to on-demand support from nutritionists and experts on the GIThrive app.

Read the full story here.

Hitched Inc.

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

Read the full story here.

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Building Houston

 
 

Moonflower Farms grows lettuce hydroponically. Courtesy of Moonflower Farms

A Houston urban farm has earned national recognition for its innovative approach to water conservation. Moonflower Farms won the American Heart Association's Foodscape Innovation Excellence Award, which recognizes positive changes in the foodscape, a term for all of the places where food is produced, purchased, or consumed.

The Heart Association selected Moonflower's submission, titled "Sustainable Farming Through Water Conservation," from 26 entries. Dallas' Restorative Farms earns the Foodscape Innovation Consumer Choice Award.

"These two innovations demonstrate a way of producing food that promotes affordability and equitable access, and the American Heart Association is proud to recognize these efforts," AHA chief medical officer for prevention Eduardo Sanchez said in a release.

Located in a 20,000-square-foot greenhouse south of downtown, Moonflower operates what it describes as Houston's first vertical indoor farm. The method both reduces the amount of space needed to grow the farm's microgreens, lettuces, herbs and edible flowers and it eliminates the disruptions caused by adverse weather conditions, which allows the farm to produce year round.

Moonflower uses a closed-loop system for capturing rainwater to feed its crops. The water is treated and oxygenated so that it can be reused. Not having to pay for water from the City of Houston allows the farm to operate more economically and sell its produce at an affordable price to restaurants and individuals.

"Our hydroponic farm uses 90-percent less water than conventional farms," Moonflower founder and CEO Federico Marques said in a statement. "We provide year-round produce to residents in historically underserved communities and donate produce to local charitable food systems."

One of those charities is Houston non-profit Second Servings, which "rescues" food from restaurants and events and distributes it to food pantries and other resources.

"The donations we receive from Moonflower Farms are incredible," Second Servings founder and president Barbara Bronstein said. "Their hydroponically grown greens are so appreciated by the needy Houstonians we serve, who lack affordable, convenient access to fresh produce."

Recently, Moonflower introduced a SupaGreens subscription box that allows customers to purchase greens weekly, bimonthly, or monthly. The box is delivered directly to consumers.

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This article originally ran on CultureMap.

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